Section 10-203 – Status
The State Treasurer shall hold and the Comptroller shall account for the Fund.
Section 10-204 – Composition
The Fund consists of: (1) money that the Board receives from any public or private source, including a gift, grant, or legacy; (2) interest earned on Trust accounts held by title insurers and their agents under § 22–105 of the Insurance Article; (3) investment earnings of the Fund; and (4) repayments of principal or payments of interest on loans […]
Section 10-205 – Solicitation of Money
The Board may solicit money for the Fund from any source.
Section 10-206 – Investment of Fund
Money in the Fund shall be invested in the same way as other State money.
Section 10-201 – Established
There is a Maryland Affordable Housing Trust Fund.
Section 10-202 – Purposes of Fund
(a) The Board shall use the Fund to make awards to: (1) help acquire, build, rehabilitate, or preserve affordable housing; (2) help nonprofit organizations develop affordable housing; and (3) help promote affordable housing by contributing to pay the operating expenses of housing developments. (b) In any fiscal year, the Board may use up to 5% of the Fund to pay […]